Our viewpoint

All change for
DB transfers - issue 12

  • Quotation rates in Q2 2018 increased slightly since the previous quarter, but are still below the record level of activity during 2017.
  • Interest in transfer values continues to be highest at older ages, with an average age of 54 across members requesting a quotation in Q2 2018, compared with 51 for the deferred population as a whole.
  • For the 20% of schemes that allow partial DB transfers, we are seeing increasing interest from members, with double the number of partial transfers taken during the first 6 months of 2018 compared with the whole of 2017.
  • New FCA advice rules coming into effect in October 2018 could have a significant impact on take-up rates, particularly for schemes offering “less generous” transfer values.

Speak to our experts Bart Huby or Stuart Levy for more information.

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